Deacon Company is a merchandising company that is preparing a budget for the second quarter of the calendar year. The following information is available. Required: 1-a. Prepare a schedule of expected cash collections from sales and a schedule of expected cash disbursements for merchandise purchases.. 1-b. Prepare a cash budget for May. (Cash deficiency, repayments and interest should be indicated by a minus sign.) 2. Prepare a budgeted income statement for May. 3. Prepare a budgeted balance sheet as of May 31. \begin{tabular}{|l|l|} \hline Minden Company \\ \hline Budgeted Balance Sheet \\ \hline Mssets \\ \hline Total assets & \\ \hline & \\ \hline \end{tabular} Deacon Company is a merchandising company that is preparing a budget for the second quarter of the calendar year. The following information is available. Required: 1-a. Prepare a schedule of expected cash collections from sales and a schedule of expected cash disbursements for merchandise purchases.. 1-b. Prepare a cash budget for May. (Cash deficiency, repayments and interest should be indicated by a minus sign.) 2. Prepare a budgeted income statement for May. 3. Prepare a budgeted balance sheet as of May 31. \begin{tabular}{|l|l|} \hline Minden Company \\ \hline Budgeted Balance Sheet \\ \hline Mssets \\ \hline Total assets & \\ \hline & \\ \hline \end{tabular}